Trump Announces $5 Million “Gold Card” for Wealthy Foreigners: A Fast Track to US Citizenship
In a bold move aimed at attracting affluent individuals to the United States, former President Donald Trump revealed plans to introduce a “gold card” program. This initiative would allow wealthy foreigners to gain the right to live, work, and eventually secure US citizenship—all for a hefty price tag of $5 million.
Speaking from the Oval Office, Trump explained, “We’re going to be selling a gold card. You have a green card; this is a gold card. We’re putting a price on that card of about $5 million, and that’s going to give you green card privileges, plus it’s going to be a route to citizenship. Wealthy people will be coming into our country by buying this card.”
The program, set to launch in approximately two weeks, could potentially see millions of these cards sold worldwide. When asked if Russian oligarchs would be eligible, Trump responded, “Yeah, possibly. I know some Russian oligarchs that are very nice people.”
Replacing the EB-5 Visa Program
The new “gold card” initiative is designed to replace the existing EB-5 Immigrant Investor Visa program, which has been in place since 1992. The EB-5 program allows foreign investors to obtain green cards by investing in US projects that create jobs. Currently, the minimum investment required is $1,050,000, or $800,000 in economically distressed areas known as Targeted Employment Areas (TEAs).
Commerce Secretary Howard Lutnick, who joined Trump for the announcement, emphasized that applicants would still undergo rigorous vetting. “They’ll have to go through vetting, of course, to make sure they’re wonderful, world-class global citizens,” he said.
Controversy and Criticism
The EB-5 program has faced bipartisan criticism in recent years, with lawmakers arguing that it has strayed from its original purpose of stimulating economic growth and job creation. During Trump’s first term, his administration attempted to raise the minimum investment thresholds to $900,000 for TEAs and $1.8 million for other areas. However, a federal judge blocked the change in 2021, citing procedural issues.
The program was last renewed in 2022 under the Biden administration, with the investment requirements adjusted to their current levels. Notably, businesses linked to Trump and his family have also benefited from the EB-5 program, using it to fund major real estate developments.
A New Era for US Immigration?
The proposed “gold card” program represents a significant shift in US immigration policy, targeting high-net-worth individuals who can contribute substantial sums to the economy. While the initiative has the potential to attract significant investment, it also raises questions about fairness and the prioritization of wealth over other immigration criteria.
As the program prepares to launch, it remains to be seen how it will be received by both the public and lawmakers. Will it succeed in bringing “world-class global citizens” to the US, or will it face the same criticisms that plagued the EB-5 program? Only time will tell.
For now, one thing is clear: the $5 million “gold card” is poised to become one of the most exclusive—and controversial—pathways to US citizenship.
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